Toronto, Ontario (December 1, 2014) – First Capital Realty Inc. (TSX:FCR) (the “Company”), Canada’s leading owner, developer and manager of well-located, high quality urban retail-centered properties, announced today that it has completed approximately $80 million of previously disclosed property dispositions. The Company also increased its existing senior unsecured revolving credit facility from $700 million to $800 million on the same terms.
“We continue to recycle capital to our major urban developments and properties in our core trade areas,” said Kay Brekken, EVP & CFO of First Capital Realty. “We are also pleased to further increase our liquidity. Our unsecured facility remains an important part of our overall financial strategy and provides us with significant financing flexibility, which includes among other things our pool of approximately $5 billion of unencumbered assets.”
ABOUT FIRST CAPITAL REALTY (TSX: FCR)
First Capital Realty is Canada’s leading owner, developer and manager of well-located, high quality urban retail-centered properties. The Company currently owns interests in 159 properties, including one ground-up development project underway, totalling approximately 24.3 million square feet of gross leasable area.
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For further information:
Dori J. Segal, President & CEO, or
Kay Brekken, Executive Vice President & CFO
First Capital Realty Inc.
85 Hanna Avenue, Suite 400
Toronto, Ontario, Canada M6K 3S3
Tel: (416) 504-4114